As travelers eagerly anticipate their adventures, the BRICS tourism industry stands as a beacon of opportunity and growth. With a current valuation soaring to USD 5.09 trillion in 2024, the stage is set for a transformative journey ahead.
The narrative unfolds with anticipation, envisioning a future where demand ascends to USD 7.83 trillion by 2034, fostering a CAGR of 4.4%.
| Attributes | Details |
|---|---|
| Value for 2024 | USD 5.09 trillion |
| Value for 2034 | USD 7.83 trillion |
| Forecast CAGR for 2024 to 2034 | 4.4% |
| Historical CAGR (2019 to 2023) | 3.70% |
|---|---|
| Forecast CAGR (2024 to 2034) | 4.40% |
From 2019 to 2023, the industry witnessed a sluggish CAGR of 3.70%, reflecting a period of gradual expansion and evolution. This era marked a boom in accessibility and a rise in interest in exploring the diverse landscapes and cultures within the BRICS nations.
The forecasted CAGR from 2024 to 2034 paints a picture of continued growth and adventure in the BRICS Tourism realm. With a projected CAGR of 4.40%, the future promises to be ripe with opportunities for exploration, discovery, and innovation.
From ancient treasures to modern marvels, each destination beckons with tales of past triumphs and beckons toward future adventures, inviting travelers to embark on a journey of a lifetime.
The below section shows the leading segment. Based on the consumer orientation, the men segment is accounted to hold an industrial share of 48.3% in 2024. Based on age group, the 26-35 years segment is accounted to hold an industrial share of 35.4% in 2024.
| Category | Industrial Share in 2024 |
|---|---|
| Men | 48.3% |
| 26-35 years | 35.4% |
Based on consumer orientation, the men's segment stands out, capturing a significant industrial share of 48.3%. The considerable share underscores the surge in the prominence of men as key consumers in the industry.
As societal norms evolve and traditional gender roles blur, men are widely embracing self-care and grooming, including investing in personal care products tailored to their needs.
The boom in specialized men's grooming brands and products tailored to men's preferences and lifestyles further fuels this trend, thus catering to their unique requirements and preferences.
Based on age group, the 26-35 years segment is accounted to hold an industry share of 35.4% in 2024. The age group represents a demographic characterized by young adults in the prime of their professional and personal lives, often prioritizing self-care and grooming routines.
With a focus on maintaining youthful appearances and adopting healthy lifestyles, individuals within this age bracket are keen consumers of personal care products.
The purchasing power, coupled with a desire to invest in quality grooming products, propels significant demand within the industry, making them a critical target audience for brands and retailers alike.
The table describes the top five countries ranked by revenue, with South Africa holding the top position. The dominance of South Africa in the BRICS tourism industry is propelled by its diverse landscapes, vibrant cities, and rich cultural heritage.
Iconic attractions such as safaris in Kruger National Park, Table Mountain in Cape Town, and artistic experiences contribute to its appeal, making it a top destination within the BRICS nations.
Forecast CAGRs from 2024 to 2034
| Countries | CAGR |
|---|---|
| Brazil | 4.5% |
| Russia | 4.9% |
| China | 5.2% |
| India | 5.8% |
| South Africa | 6.2% |
In Brazil, the BRICS tourism industry thrives on the diverse natural landscapes, vibrant culture, and iconic attractions.
From the breathtaking Amazon rainforest to the bustling streets of Rio de Janeiro, Brazil offers a myriad of experiences for travelers seeking adventure, relaxation, and cultural immersion.
The warm climate, welcoming people, and rich heritage make it a top destination within the industry.
Tourists are drawn to iconic landmarks, including the Kremlin in Moscow, the Hermitage Museum in Saint Petersburg, and the historic cities along the Golden Ring in Russia.
Cultural attractions such as the Bolshoi Theatre and the Trans-Siberian Railway offer unique experiences for travelers seeking cultural immersion and adventure.
The vast wilderness areas, including Lake Baikal and the Kamchatka Peninsula, also attract ecotourists interested in exploring pristine natural environments.
The vibrant cities in China, including Beijing, Shanghai, and Xi'an, showcase modern developments, technological innovation, and dynamic urban landscapes.
The diverse cuisine, traditional festivals, and scenic landscapes, such as the Li River and Zhangjiajie National Forest Park, further contribute to its appeal as a top tourist destination within the BRICS nations.
Tourists are drawn to iconic landmarks, such as the Taj Mahal, Jaipur's palaces, and Kerala's backwaters, which offer glimpses into the rich history and architectural marvels.
Spiritual seekers flock to sacred sites such as Varanasi, Rishikesh, and Bodh Gaya, while adventure enthusiasts explore the Himalayas, national parks, and wildlife reserves.
The vibrant festivals, colorful industries, and culinary delights further enhance its appeal as a top tourist destination within the BRICS nations.
Tourists flock to South Africa to embark on safari adventures in Kruger National Park, explore the vibrant city of Cape Town, and visit iconic landmarks such as Table Mountain and Robben Island.
The rich cultural heritage, including its diverse population, languages, and traditions, offers immersive experiences for travelers seeking cultural exchange and exploration.
The scenic coastal drives, winelands, and outdoor activities appeal to adventure seekers and nature enthusiasts, making it a top destination within the BRICS nations for tourism.
Each member nation of the BRICS tourism industry competes with its unique blend of attractions, cultural heritage, and hospitality offerings. Competition drives innovation in infrastructure, services, and industrial strategies as each nation seeks to attract and retain tourists.
Collaboration within the BRICS framework fosters mutual growth and exchange of best practices, further enhancing the competitiveness of the collective tourism industry on the global stage. Some of the key developments are:
| Attributes | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 5.09 trillion |
| Projected Industry Valuation in 2034 | USD 7.83 trillion |
| Value-based CAGR 2024 to 2034 | 4.4% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Industry Analysis | Value in USD trillion |
| Key Industry Segments Covered | Tourism Type, Booking Channel, Tourist Type, Tour Type, By Consumer Orientation, By Age Group, Region |
| Key Countries Profiled | Brazil, Russia, China, India, South Africa, Egypt |
| Key Companies Profiled | Thomas Cook; Cox and Kings; SOTC; Kesari Tours; Expedia; Signature Tours; Natripp |
As of 2024, the industry for BRICS tourism is expected to be valued at USD 5.09 trillion.
The BRICS tourism Industry is projected to expand at a CAGR of 4.40% between 2024 and 2034.
The men segment is projected to dominate the industry.
By 2034, the Industrial value of BRICS tourism is expected to reach USD 7.83 trillion.
South Africa is likely the top-performing Industry, with a CAGR of 6.2%.
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BRICS Tourism Industry Analysis
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